ORCL Oracle (ORCL) Q2 FY26 earnings call
Oracle delivered a robust quarter, marked by accelerating cloud revenue and unprecedented RPO growth, largely fueled by AI demand and strategic partnerships. The company is aggressively expanding its OCI capacity, leveraging diverse financing models to manage capital intensity while maintaining an investment-grade debt rating. Oracle's integrated AI data platform and application suites are driving significant customer upgrades and cross-selling synergies, positioning it uniquely in the enterprise AI landscape.
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ORCL operating KPIs by quarter
| KPI | Feb 2025 Q3 FY25 | May 2025 Q4 FY25 | Aug 2025 Q1 FY26 | This call Nov 2025 Q2 FY26 | Feb 2026 Q3 FY26 | May 2026 Q4 FY26 | Aug 2026 Q1 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Remaining performance obligation (RPO) | $130BOur RPO balance is now $130 billion, up from $97 billion last quarter and up from $80 billion last year.Source: earnings call transcript | $138BOur remaining performance obligations now stand at $138 billion, up $8 billion from last quarter and up 41% from last year, and yet the best is still to come.Source: earnings call transcript | $455BAt the end of Q1, remaining performance obligations, or RPO, now to $455 billion.Source: earnings call transcript | $523.3BRemaining performance obligations, or RPO, ended the quarter at $523.3 billion, up 433% from last year and up $68 billion since the end of August, driven by contracts signed with Meta, NVIDIA and others as we continue to diversify our customer backlog.Source: earnings call transcript | $553BThis is directly visible in our $553 billion RPO.Source: earnings call transcript | $638BAnd our remaining performance obligations, or RPO, finished at $638 billion, up 363%.Source: earnings call transcript | — | +15.4% |
| Live Database at Cloud Services cloud regions | 18We are currently live in 18 cloud regions with Database at Cloud Services with our partners and have another 40 planned with Azure, Google and AWS.Source: earnings call transcript | 23We are currently live in 23 cloud regions with database at cloud services and have another 47 planned.Source: earnings call transcript | 34And finally, the Oracle database is booming with 34 multi-cloud data centers now live inside of Azure, GCP and AWS, and we will deliver another 37 data centers for a total of 71.Source: earnings call transcript | — | — | — | — | +47.8% |
| Contract bookings AI infrastructure | — | — | — | — | — | $67BWe signed $67 billion in AI infrastructure contracts this quarter, the majority of which was either bring-your-own-hardware or prepaid.Source: earnings call transcript | $30B+We closed more than $30 billion of additional AI contracts in Q1 without requiring additional capital from Oracle.Source: earnings call transcript | — |
| Global GPU utilization rate | — | — | — | — | — | 97.5%Our global GPU utilization rate is 97.5%.Source: earnings call transcript | 97.9%GPU utilization remains extremely high at 97.9% in Q1.Source: earnings call transcript | +0.4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.